Bitcoin, Ethereum, BNB and XRP all moved lower on Monday as traders weighed Federal Reserve uncertainty, ETF withdrawals and Middle East tensions, while sentiment weakened.
Crypto prices moved lower on Monday as investors weighed Federal Reserve uncertainty, ETF withdrawals and Middle East tensions. The Fear and Greed Index fell to 43, reflecting weaker confidence after Bitcoin's unsuccessful push toward $85,000.
Majors slip ahead of the Fed meeting
Bitcoin traded near $80,250, down 0.51% over 24 hours, in a daily range of $79,280 to $80,710. Ethereum hovered around $2,324, with $2,293 as a potential support reference and $2,355 as the daily high.
BNB slipped 0.23% to $743.85, trading between $732.49 and $745.23. XRP dropped 0.66% to about $1.30, with its daily low touching $1.27.
The Fed meets Oct. 27-28, and traders give about a 90% chance of no rate change. That would leave the target range at 3.75% to 4.00%, though another hike would not be out of the question.
ETF outflows weigh on demand
On October 22, spot Bitcoin ETFs, including BlackRock's IBIT, shed $635.6 million. Ethereum funds lost around $111 million that session, roughly $75.45 million of it through ETHA.
Bitcoin funds then lost another $137.9 million on October 23.
Long liquidations add pressure
Derivatives data showed $181.43 million in liquidations, although the source could not independently verify the reporting period. Long positions accounted for $121.4 million of the total and shorts for $60.03 million.
Daily trading volume rose 84.81% to $726.85 billion, and open interest went up 2.16% to $341.55 billion. High open interest alongside low prices may signal more bearish interest, but it cannot confirm traders' intent by itself.
Oil and Iran war complicate the outlook
The risk of energy supply disruption remains high despite renewed diplomatic activity in the war between the U.S. and Iran. Further escalation could bring inflation fears back and dampen prices for Bitcoin, Ethereum, BNB and XRP.
Brent crude recently topped $117 per barrel on heightened regional tensions. High energy costs can raise transportation and production costs, which makes Federal Reserve policymaking more difficult.
Source: CoinGape
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